showcase Showcase your Royal Mint Gold domains (RMG)

[baseballworld]

This is the time for everyone to see the new niche. Showcase your royal mint gold domains or RMG as they are called. more information here about them here will eb a blockchain much like bitcoin only real gold backing worth billions.

http://bravenewcoin.com/news/uks-royal-mint-and-cme-group-launching-gold-backed-blockchain-assets/

here are my 2

RoyalMintApp.com - obviously gonna be an app made. lol
RMGPrice.com - chose this because in bitcoin phrases it was highest searched phrase monthly behind bitcoin itself.

 

[Kuffy]

Well I don't want to rehash everything, but here are a couple of facts.

RM aren't the first to try to link gold to a blockchain
RM online sales are done through RM signature gold - http://www.royalmint.com/bullion/products/signature-gold
A blockchain is a string of computer records not a warehouse - therefore any linked gold will be virtual, and not tied to specific physical assets.
I haven't discovered if the "blockchain" will be viewable by the public, authorised dealers, or clients of the dealers. I'm sure it will be viewable by the tax man though.

 

[mad409]

@Kuffy RM aren't the first to try to link gold to a blockchain

"That's been mentioned within the press but they have the backing."


RM online sales are done through RM signature gold - http://www.royalmint.com/bullion/products/signature-gold

"Not even close to being the same thing as what they are trying to do."

A blockchain is a string of computer records not a warehouse - therefore any linked gold will be virtual, and not tied to specific physical assets.

"Totally wrong, backed by their gold holdings and the amount will increase as needed."

I haven't discovered if the "blockchain" will be viewable by the public, authorised dealers, or clients of the dealers. I'm sure it will be viewable by the tax man though.

"Don't think this needs to be hidden to the tax man, like bitcoin. Not what they're trying to accomplish here IMO!"

 

[Kuffy]

Totally wrong, backed by their gold holdings and the amount will increase as needed.

So who decides what is "needed"? You can bet that pretty soon they will start to use fractional reserves.

How do you link a physical section of a gold bar to a specific buying record on the blockchain? If you can't do this, then the holding is virtual.

What happens if you sell half of your holding? Is the original record contra'd and a new record created? How does this affect CGT?

 

[Magicpig2]

Thrown a couple of bucks at this:

VirtualGeld
VirtuellesGold

.com's

 

[mad409]

So who decides what is "needed"? You can bet that pretty soon they will start to use fractional reserves.

How do you link a physical section of a gold bar to a specific buying record on the blockchain? If you can't do this, then the holding is virtual.

What happens if you sell half of your holding? Is the original record contra'd and a new record created? How does this affect CGT?

You need to read a bit more on this subject, I'm not in any way promoting it, or telling anyone to buy domains.

It's backed by real gold assets, whether you agree or not.

It's not virtual like bitcoin that doesn't really exist but rather digital gold which does.

I have no clue how the entire system will work, as I advised let's see what happens and what new news is released.

 

[Kuffy]

I think I need to back out of this thread.

"digital gold" by definition is not physical gold. What is a "real gold asset" - is it physical gold, or a paper derivative?

 

[mad409]

I think I need to back out of this thread.

"digital gold" by definition is not physical gold. What is a "real gold asset" - is it physical gold, or a paper derivative?

Digital gold is what will be offered through their blockchain technology and backed by real gold in the vault.

It's still real gold but just not in your possession.

I'm out got a Titans game in six hours, need some sleep...

 

[ustradebitcoin]

what about RMGspace , rmgtalk, rmg.it , rmg.ht

 

[Dun]

what about RMGspace , rmgtalk, rmg.it , rmg.ht

rmgTalk looks fantastic and more of a forum about RMG

rmgTalk.org to correspond with bitcoinTalk.org would be really a good catch.

However both are taken in the RMG rush!

Lucky you if you'd them

 

[Dun]

Digital gold is what will be offered through their blockchain technology and backed by real gold in the vault.

It's still real gold but just not in your possession.

I'm out got a Titans game in six hours, need some sleep...

I think I can put what's been said so far in an organized stream of points. Hope I've the time to do it though.

 

[Dun]

Just to gather on this. Thanks OP.
We reached a good a milestone so far, so I thought to get back to the main RMG subject.

This was necessary at least for me, because if I'm going to hand reg an RMG related domain, I better educate myself along the way about what RMG is in the first place. Thanks to all fellow domainers who shared their inputs and showed me the right path to tread. However be informed that this summary is not by any means complete or claims to be new info. Anyway, you may stick to the notice below :

​

The opinions expressed on this comment by this user is "their" own, not those of NamePros. Always question the user's mental sanity before taking anything "they" say for granted! Good luck!​

Ok let's dive in..

The Domainer Mini Guide To Understanding
The Royal Mint Gold [RMG]
Vol. 1​

Understanding The RMG

So to wrap things up, this all started by the breaking news coming from the Royal Mint. The Royal Mint is a government owned company located in the UK. It's the world's leading export mint, with over 1100 years of experience in bullion trading.

Partnering with the American-based futures exchange CME Group, the world's leading and most diverse derivatives marketplace, the Royal Mint announced a new product called RMG to be traded on a blockchain backed platform that facilitates buying, holding, and selling of gold. The new digital gold product will be open to trading by the mid-2017.

It wasn't clear at first what the true nature of this RMG product is. So after a little investigation we settled to concentrate on the second term associated with it for better understanding.

Enter The Blockchain

We ended up discovering that blockchain is actually a powerful transaction system technology that will probably change the world of transactions in multiple forms of applications. Blockchain technology was the driving technology behind the famous digital currency bitcoin.

Then we proceeded to find out that blockchain technology can be used in endless sorts of applications.

Three main types of blockchains exist

1. Public blockchains: open source softwares where everyone can be part of them. Anyone in the world can explore the blockchain, send transactions or contracts, consult them and participate in the consensus process to add new blocks of records. This type includes bitcoin, etherium, etc., as applications.
2. Private blockchains: internal to a single company and restricted to certain entities.
3. Consortium blockchains: controlled by a pre-selected set of multiple institutions, each operates a node that must sign every block in order for the block to be valid and recorded. The right to read the blockchain may be public, or restricted to the participants. ref

Broad Roles Of The Blockchain

• Primarily as a fascinating highly secure peer2peer transaction decentralized time stamped ledger system that allows all sort of digital or physical assets transactions to be tracked, encrypted, transmitted over the network, and stored in special data structures called the blocks. The blocks represent immutable linked records that can't be altered once a transaction is recorded successfully with the help of open replicated ledgers. No system admins can tamper with it, not even Satoshi Nakamoto! It's near to impossible to hack (that's at least the hype about it now). This basic form of blockchain represents a transactional system.
• Expanding on the first blockchain algorithm form, the blockchain has been first materialized into creating crypto currencies by leveraging its mining component (or proof of work PoW) to incorporate incentive rewards to the participants who confirm the validity of the ledger transactions in return of their consensus work. That was the first application and architecture behind the birth of the peer2peer payments system: the bitcoin. This form of the blockchain represents a true exchange system of values: virtual money.
• The blockchain can be further expanded in many other areas to include but not limited to providing secure voting system, intellectual property tracking, health care, insurance, payments processors, airports tickets, tracking ownership of assets like derivatives, shares, bonds, and everything that needs automated smart contracts or transactions.

Please refer to previous posts or search online for further information. You can start by reading Satoshi Nakamoto first proposal on bitcoin and Wei Dai pioneering proposal

So, now we understand that RMG is built to be traded on this blockchain technology. And we understand in general that a blockchain is sort of a sophisticated peer2peer transaction database based on a decentralized ledger. In other words it's bitcoin or blockchain. It depends on how you use it: to produce crypto currency, or to process transactions. Both are based on incentive rewards provided by the blockchain: be it bitcoin or a different passive earring from the cost savings that arise from using the blockchain. However it depends on the type of the blockchain in use. The more participants in the blockchain consensus process, the more trusted and secure the network as a whole.

Blockchain technology is a decentralized database that stores a registry of assets and transactions across a peer-to-peer network. It’s basically a public registry of who owns what and who transacts what. The transactions are secured through cryptography, and over time, that transaction history gets locked in blocks of data that are then cryptographically linked together and secured. This creates an immutable, unforgettable record of all of the transactions across this network. This record is replicated on every computer that uses the network.
Warburg

Other Digital Gold Products Examples

Then based on previous comments made by fellow domainers in this post, I searched for similar digitized gold products that may resemble Royal Mint RMG product. I needed any possible precedent already set in the wild. There where I met Bitshares, and Digix.

Bitshares [BTS] blockchain-backed Asset Exchange Platform
BTS can be converted to BTC and other Crypto Currencies

Digix blockchain-backed Asset Exchange Platform
DGX Gold Tokens can be converted to BTC and other Crypto Currencies
with passive income from transaction fees
​

So Finally What Exactly Is RMG?

Well according to Royal Mint's vague statements they're creating a digital gold product. An investment opportunity. At the same time they say it'll be different than any blockchain digital gold product ever made by other bullion companies out there!
What do you think now? Will be there anything new about it? RMG with wings?

The most likely answer is NO. They're actually talking about two main keywords here:

• The first keyword is new blockchain-backed trading software. The catch lies in the way their blockchain platform process trading of their new RMGs.
• The second keyword is investment. That could probably also means passive return as a side effect of doing transaction on their platform.

Developing a digital gold trading platform will help ensure that CME Group’s current product offerings meet the evolving needs of the global marketplace. As we continue to expand our global footprint and develop new products, this platform will help set standards for digital assets in financial markets.
Julie Winkler, Senior Director at CME Group

The new platform will be designed by the futures firm CME Group and hopes to launch sometime in 2017. RMG will be based on a blockchain platform that records digital ownership of bullion stored in the Royal Mint’s secure storage vaults. The distributed ledger will provide a cryptographically secure landscape for buying, holding and trading spot gold.
Royal Mint

One RMG will represent one gram of physical gold.
Royal Mint

​

Go For Gold...Or Run Away From It?

Well now you should hopefully be a bit informed about blockchain, bitcoin, and maybe RMG as a domainer. It's up to you now to go ahead in your registrations ventures or walk away from it.

After all we are talking about Royal Mint and not small establishment. The other maybe struggling for obvious reasons. But Royal Mint could be a real potential with its resourceful capacity.

RUSH
​

- Dunwall

 

[Kuffy]

Blockchain is not trading software - blockchain is a a file structue - you only need to look at its name to realise that..
The peer to peer networking in Bitcoin is performed by software created by the Bitcoin Core team This is open source, and frreely available for downloading by anyone. It enables you to retrieve a copy of the full blockchain to store on your computer, and run a full or pruned node. This enables you to interact with other nodes to synchronise your copy of the blockchain. It is the Bitcoin core software that maintains the distributed ledger, not the simple file structure known as the blockchain.

 

[Elad n]

Ok , this is by far the craziest thread on np these days lol

 

[Corey]

Domain Names For Sale - Make Offer -

RMGvault.com, RMGtoken.com, RMGCryptography.com, RMGbrokers.com, RMG.trade & RMGin.com



Cheers
Corey

 

[Dun]

Blockchain is not trading software - blockchain is a a file structue - you only need to look at its name to realise that..
The peer to peer networking in Bitcoin is performed by software created by the Bitcoin Core team This is open source, and frreely available for downloading by anyone. It enables you to retrieve a copy of the full blockchain to store on your computer, and run a full or pruned node. This enables you to interact with other nodes to synchronise your copy of the blockchain. It is the Bitcoin core software that maintains the distributed ledger, not the simple file structure known as the blockchain.

Great input indeed. Appreciated. Here lies the confusion and you nailed on the head clearly this time. It's all actually about registering decentralized chained proof of work solutions. In other terms: hashed "block chain(s)".

So incorrectly as it might appear at first when we're referring to "blockchain" we're actually referring to the whole mechanism of how actually bitcoin system works, and not those hashed "block chains". To add to the confusion they're talking about bitcoin "blockchain".

However the ongoing definitions it's "blockchain technology" and not bitcoin technology! Despite the fact they're both technically the same. They say it's the underpinning, underlying technology that's behind bitcoin. Of course that's misleading.

It's simple to understand actually as you said!..so the previous statements that say "blockchain" is the underlying technology behind bitcoin is true but created this fake question:" who came first? It makes you think that blockchain is invented before bitcoins as "something" already in place. So when they're talking about that, they're actually right but in a different context.

Here is another definition I found online that I really like. Notice the space in between ref

A "block chain" is a transaction database shared by all nodes participating in a system based on the Bitcoin protocol. A full copy of a currency's block chain contains every transaction ever executed in the currency. With this information, one can find out how much value belonged to each address at any point in history.

Then I agree on the definition that

The "block chain" is the main innovation of Bitcoin.

The true word should be "block chain" with the space in between to better be understood that it's all about creating, registering hashed chain of blocks. To reminds you that each block contains a hash that's linked to adjacent blocks.

Despite of all that said above. The current stream is distilling the main characteristic of bitcoin "block chains" and throwing it as an umbrella definition: the "blockchain".

In that regard bitcoins is an application of the "blockchain". But if you put the space in between you get the idea.
Moreover It's all now spread online and defined in terms of private "blockchain, "public blockchain". And even as a ledger that's categorized into shared, public, etc in the same sense. That's crazy.

So what I discovered is when they're speaking of what's "blockchain", they're talking about the main characteristic of the system as a whole.

They treat the layers of the system: the database, the p2p network, the engine layer, into one definition. That's the blockchain. So when you ask, what's "blockchain"? They start talking about it as a decentralized database..etc.

The reason behind that I guess is the database term simply won over bitcoin! Because..what you gotta outta all of this is a bunch of chained blocks: that's database! The data layer wins over the business layer, in programming terms. Who cares about the pipeline system, we care about the content.

So you're free to adopt whatever they're saying at the end. Since it's not now about bitcoin but about the transaction aspect of the system. That where a term like decentralized database wins out the definitions war.

What you want to do with those block chains? To treat them as virtual money or secure unique footprints to track everything else? I think here lies the great adoption of the blockchain term. Who cares about the engine anymore, they only care of the outputs: the blocks, what is inside the database. The public also like the definition. because it's easy to explain.

I can't say anything bad about databases LoL. And you better do.

Thanks for your guidance and pointing out the difference

 

[Dun]

Domain Names For Sale - Make Offer -

RMGvault.com, RMGtoken.com, RMGCryptography.com, RMGbrokers.com, RMG.trade & RMGin.com



Cheers
Corey

rmgToken.com looks good.

Well I noticed most blockchain app runs on .info or .io, so you may consider that.
By the way I wonder if Royal Mint is intending to host its coming trading platform with CME. Cause I found that Royal Mint has another site called RoyalMintBullion! LOL!

Anyhow good luck

 

[Dun]

Well I don't want to rehash everything, but here are a couple of facts.

RM aren't the first to try to link gold to a blockchain
RM online sales are done through RM signature gold - http://www.royalmint.com/bullion/products/signature-gold
A blockchain is a string of computer records not a warehouse - therefore any linked gold will be virtual, and not tied to specific physical assets.
I haven't discovered if the "blockchain" will be viewable by the public, authorised dealers, or clients of the dealers. I'm sure it will be viewable by the tax man though.

It's all mentioned repeatedly more than once that the main gold vault will be in store with them. RMG will not be used as a digital currency. It makes sense you can't buy a beer bottle with it, but if you can convert it to virtual currency then that will work good with bitcoin folks. Anything of value entered the exchange can be converted into other forms like BTC. I'm looking into something like DGX. I don't think they can outrun it. It's a matter of time though.

Well the current trend is more into permissioned blockcahin of preselected parties. Simply meaning only the company departments will be able to verify all the transactions.

By lowering fees I think taxes will be less of issues to them, but sure not for the street man I guess.

 

[Dun]

Blockchain is just a fancy name for a data storage system, just the same as sequential files, Indexed sequential files, direct access files and structured query language files. Every implementation has differences and variations. Bitcoin is evolving and now has side chains and segregated witness files as exras. The distributed ledger is a Bitcoin development, and is a different feature, so is mining - " proof of stake" is the alternative to Bitcoin's " proof of work" by the way.

I think we're repeating ourselves here. It's all understood. But hey why I feel like we're going more biased on the topic.
It's all about getting to know RMG role that fits in the big picture.

Why the bitcoin community is so upset that much? I saw people fighting over small differences on youtube. I can understand it's all about the backing investors. But I think bitcoin community should be happy now that their proof of work technology proved it can be converted to better uses alongside bitcoin

 

[Dun]

Digital gold is what will be offered through their blockchain technology and backed by real gold in the vault.

It's still real gold but just not in your possession.

I'm out got a Titans game in six hours, need some sleep...

I agree. We just stick to what they say. It's that simple. Those folks got gold to sell. They used a software backed by blockchain technology. We don't care about that pipeline system anymore. It's not visible to the users. It just benefits them and you to smoother transactions with minimum fees and others. They just press a button and a transaction just began. It's investment product with equivalent value of the underlying physical asset.
So they just keep doing what they know better: selling gold through a more secure channel. I'm just waiting to see the side perks.

 

[Dun]

It's been confusing from the start but we do have a few facts so far, correct me if I'm wrong. My 2 cents...

· They call it RMG, it's 1 kilogram per RMG, it's a digital asset.

· The Royal Mint will back this with stored gold in their vault, secured investment.

· It will be on a blockchain, never been done successfully before.

· It will allow access for people around the globe to invest in gold, whether it's one RMG, or multiple RMG's etc..

· No need to hold real gold assets such as coins etc., or enter gold stock market trading with this new option.

· Don't register domains with The Royal Mint in the domain.

· RMG is generic, don't go overboard until more information is released. If you do, don't point to gold related ads etc.. Again RMG is generic.

· They can't do this on their own and just one site therefore it's my opinion many sites will flourish offering RMG. Not only websites but other means such as kiosks etc.. That is if in fact this gets off the ground which has yet to be seen but we have good backing so I think it will.

· There has to be a commission/residual for them and others that promote the gold blockchain as with any great idea money needs to be made. This might be done through approved affiliates, not sure but again it's my opinion for this to fly they will need to relax with the RMG trademark or they will never get off the ground by themselves..

Now I wait to see more news...

I liked your post. Helped much to better form my late thought about RMG

 

[Dun]

So we tried to approach RMG blockchain-backed platform first and comes out to know blockchain much better. Sure many knew better about it than others.

Now we move on to the RMG provider.. I promise to keep it short.

Ok Let's dive in one more time..
​

The Domainer Mini Guide To Understanding
The Royal Mint Gold [RMG]
Vol. 2
​

Why Royal Mint Is Moving To A Distributed Ledger?

The UK Chief Scientific Adviser proposed that the UK government appoint a minister to guide the implementation of the blockchain throughout the nation in 2016.

Here's the white paper published 19 January 2016:
The 88-Page Report By The UK Government Chief Scientific Advisor

UK Government Office for Science Video About Distributed Ledger
​

Royal Mint Comparable Quotes

The Royal Mint will put gold bars into its on-site secure vault, which will then be digitised to create RMGs whose ownership will be recorded on the blockchain. Traders will then be able to trade in and out of RMGs between themselves

the Royal Mint will issue “Royal Mint Gold,” with a digital record of ownership for metal stored at its on-site bullion vault storage facility. CME Group will develop, implement and operate the product's trading platform. This will allow market participants to trade RMGs between themselves, with some news organizations characterizing this as over-the-counter trading.

While things have improved in terms of gold trading over the centuries, it’s our view that it still remains difficult and relatively expensive as a commodity to invest in ... Gold is known in the industry as a negative-return investment

What we're trying to do with the announcement of Royal Mint Gold - or RMG - is to really address this issue and offer a better way to invest in solid digital gold

RMGs will offer ownership of the underlying gold with the option for conversion to physical gold by the Royal Mint at zero storage cost.

The Royal Mint would issue up to $1 billion worth of RMGs initially, with more added later, subject to demand. It will be offered through both retail and institutional investment providers

 

[baseballworld]

Some of my rmg domains are available for the right offer if anyone is interested.

 

[ustradebitcoin]

why you are selling them so early??

 

[baseballworld]

why you are selling them so early??

I have purchased over 87 new domains today alone all dot com keyword phrases. Want to do something with one of them and use other 3 to support it.

 

[namezest]

I have mint dot one and no time to dev it atm but I may sell or lease it